EURJPY - Upward trend will continue, Long trade by market price recommended
December 15, 2020 6:44:55 AM
Forecast Details
PairEURJPY
Direction
Buy
StatusClosed (125.85)
+75 p
127.20
Target 2
+55 p
127.00
Target 1
126.45
Entry
-60 p
125.85
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in short positions on EURJPY. As a result, we recommend considering only Long trades at this time.
- In this sideways movement, retail traders prefer to hold short trades. There seem to be a major player interest in an upward movement.
- MVP line is below the price and acts as a support level.
- Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
- The trade is aimed at the previous high breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 127
